{"id":417322,"date":"2022-03-17T08:25:49","date_gmt":"2022-03-17T05:25:49","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bank-of-canada-collaborating-with-mit-on-cbdc-research\/"},"modified":"2022-03-17T08:25:49","modified_gmt":"2022-03-17T05:25:49","slug":"bank-of-canada-collaborating-with-mit-on-cbdc-research","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bank-of-canada-collaborating-with-mit-on-cbdc-research\/","title":{"rendered":"# Bank of Canada collaborating with MIT on CBDC research"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a36e78033629\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a36e78033629\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bank-of-canada-collaborating-with-mit-on-cbdc-research\/#%E2%80%9D_Bank_of_Canada_collaborating_with_MIT_on_CBDC_research_%E2%80%9C\" >&#8221; Bank of Canada collaborating with MIT on CBDC research &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bank_of_Canada_collaborating_with_MIT_on_CBDC_research_%E2%80%9C\"><\/span>&#8221; Bank of Canada collaborating with MIT on CBDC research &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvYmFlODA5MDEtOWIxZS00MDI1LWFmODQtM2MzZWRmZjM1ZTFlLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>The Bank of Canada has partnered with the Massachusetts Institute of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">Technology<\/a> (MIT) to work on a 12 month research project focused on the design of a Central Bank Digital Currency. <\/p>\n<p>According to a March 16 announcement, the bank will work alongside the MIT <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Media<\/a> Labs\u2019 Digital Currency Initiative (DCI) team to examine how \u201cadvanced technologies could affect the potential design of a CBDC.\u201d <\/p>\n<p>The Bank of Canada stated that the project is part of a broader development agenda on digital currencies, fintech and how CBDCs could work in a Canadian context. <\/p>\n<p>It cautions that \u201cno decision has been made on whether to introduce a CBDC in Canada,\u201d but said it would provide an update once the research project has been completed. <\/p>\n<p>This is not the MIT DCI\u2019s first partnership with a bank for CBDC research, with Cointelegraph reporting earlier at the start of February that it had published research on the topic in collaboration with The Federal Reserve Bank of Boston. <\/p>\n<p>Dubbed \u201cProject Hamilton,\u201d it tested a \u201chypothetical <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> purpose CBDC\u201d using two potential models, including distributed ledger technology (DLT) and processing transactions in parallel on multiple computers, rather than relying on a single ordering server to prevent double-spending. <\/p>\n<p>CBDCs \u2014 memorably described by Asset Strategies International president Rich Checkan as being \u201cconcocted in hell by Satan himself\u201d andwith Edward Snowden warning about the implications for privacy and freedom \u2014 have been grabbing the headlines of late. <\/p>\n<p>In terms of the U.S. President Joe Biden\u2019s Executive Order on Ensuring Responsible Development of Digital Assets outlines that his administration will place \u201cthe highest urgency on research and development efforts into the potential design and deployment options\u201d of U.S.-based CBDC. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Blockchain Association policy head: US shouldn&#8217;t compete with China&#8217;s CBDC using surveillance tools<\/em><\/strong><\/p>\n<p>The Executive Order also directs the Secretary of the Treasury and other relevant officials to produce a research report on a local CBDC, while the attorney general has also been tasked with leading an effort to \u201cto assess any necessary legislative changes\u201d required for a CBDC and to promptly develop a legislative proposal afterward.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bank-of-canada-collaborating-with-mit-on-cbdc-research\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bank of Canada collaborating with MIT on CBDC research &#8220; The Bank of Canada has partnered with the Massachusetts Institute of Technology (MIT) to work on a 12 month research project focused on the design of a Central Bank Digital Currency. According to a March 16 announcement, the bank will work alongside the MIT&#8230;<\/p>\n","protected":false},"author":1,"featured_media":417323,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvYmFlODA5MDEtOWIxZS00MDI1LWFmODQtM2MzZWRmZjM1ZTFlLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75934,74894,75046,79976,75269,22974,8575],"class_list":["post-417322","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bank-of-canada","tag-blockchain","tag-cbdc","tag-mit","tag-us-government","tag-canada","tag-usa"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/417322","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=417322"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/417322\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/417323"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=417322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=417322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=417322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}